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Utah’s exceptional combination of business-friendly policies coupled with its energetic, educated and youthful workforce has created one of the nation’s most robust economies.

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Tech Spotlight

$6.9 billion annual tech payroll

14.3% of Utah’s total payroll

8.6% of Utah’s workforce

7,000 tech-focused companies in Utah

No. 1 in tech employment growth in the Western region

Source: Utah Technology Council

A Multilingual Workforce

In a growing global economy, the extraordinarily high level of multilingual capability in Utah’s population translates to a more nimble and proficient workforce. Many Utahns have lived or worked abroad, which significantly augments their capability to make an instantaneous contribution to the achievement of Utah-based businesses that operate internationally.

Approximately 80 percent of students at Brigham Young University are multilingual.

More than 50 languages are taught at Utah universities.

More than 130 languages are spoken in daily commerce in the state.

Source: Governor’s Office of Economic Development

Highlights

Utah’s median age is the country’s youngest at 29.9.

Job growth in Utah is projected to be 2.8 percent annually through 2020, compared with 1.3 percent for the rest of the United States.

Utah’s unemployment rate is one of the nation’s lowest.

Utah is a right-to-work state.

Economic Leadership & Job Growth

Sound governance and strategic economic development have positioned Utah as one of the country’s most promising states. In fact, Utah typically grows more rapidly than the nation after recessions, and this pattern is continuing in the current recovery.

In the United States, employment grew 1.7 percent from January 2013 to January 2014, while Utah’s employment grew 2.8 percent.

Utah’s unemployment rate also improved to 3.9 percent by January 2014, much better than the country’s unemployment rate of 6.6 percent.

Nine of the 10 private-sector industries in Utah posted net job increases in 2013 as compared to 2012.

- Utah's Largest Employers

Industry Excels Here

Utah’s hearty job growth is cultivated by an outstanding business environment. In contrast to much of the nation, the state’s energetic economy has led to strength within its diverse industries.

All industrial sectors had employment gains from 2012 to 2013. The largest increases were in education and health (7,700 jobs); trade, transportation and utilities (6,800 jobs); and leisure and hospitality (3,500 jobs). Only government employment decreased.

Construction employment is slated to grow 5.7 percent in 2014, an increase of 8,920 jobs.

At 5 percent, computer and mathematical occupations will be the second-fastest growing sector, adding 3,670 jobs.

The sales, retail and administrative support sectors will each add about 13,000 jobs in 2014.

Source: Utah Department of Workforce Services

Employment Outlook

Utah’s job growth rate is expected to be slightly above the trend at 3.4 percent in 2014, a full percent above the long-term projected growth of 2.4 percent by 2020.

Job growth in Utah will continue to be twice the nation’s average.

In 2012, Utah’s average annual nonfarm wage was $41,840, an increase of 5.5 percent from 2011.

Personal income grew by 5.2 percent from 2011 to 2012

A Dynamic Population

Utah is home to the country’s most youthful state, which contributes to its dynamic workforce, energy and productive lifestyle. In comparison to other states, Utah’s population is younger, women tend to have more children, household sizes on average are larger, and more households are headed up by married couples.

Median age in Utah: 29.9

National median age: 37.4

Utah’s population is estimated to be 2,900,872, an increase of 1.6 percent from 2012.

Utah ranked third among states in population growth.

By 2060, Utah’s population is projected to be more than 5.96 million people—a 106 percent increase in the next 46 years.

Population by the Numbers

A Prepared Workforce

Governor Gary R. Herbert has made education a top priority of his administration and is working with educators, business executives and community leaders to develop the next generation into a highly educated workforce.

With a 29.3 percent college-educated share of the 25 and older population, Utah ranks just above the U.S. average of 28.2 percent.

Utah has set a goal that 66 percent of the workforce will hold an advanced training certificate or degree by 2020.

The state has added millions of additional dollars for education funding for STEM education and core curriculum improvements, in addition to the 100 percent of both personal and corporate income tax dollars that are dedicated to education.

Approximately 90 percent of adult Utahns have earned at least a high school degree.

- Percent of Gross Domestic Product by Industry

Right-to-Work State

Utah is one of 24 U.S. states operating under a right-to-work law.

About 5 percent of Utahns are covered by collective bargaining agreements. Utah is 43rd in the nation in percentage of unionized workers.

A Tech-Ready Workforce

Utah’s workforce is highly talented when it comes to technology. The state continues to rank at or near the top of states for technology use among its population.

Utah ranks No. 4 in science, technology, engineering and math (STEM) job growth in the U.S., according to the U.S. Chamber.

Utah ranks No. 3 for entrepreneurship and innovation in the U.S., according to the U.S. Chamber.

Utah is 25 percent higher than the U.S. total in technology establishments per capita, according to the Utah Technology Council. The U.S. total is 1.5 establishments per 1,000 U.S. residents.

Utah is an early adopter of the public Smart School concept where schools are equipped with a managed wireless infrastructure and Apple iPads for every student and teacher.

- Fire Drill at Hill Air Force base

Tech Spotlight

$6.9 billion annual tech payroll

14.3% of Utah’s total payroll

8.6% of Utah’s workforce

7,000 tech-focused companies in Utah

No. 1 in tech employment growth in the Western region

Source: Utah Technology Council

A Multilingual Workforce

In a growing global economy, the extraordinarily high level of multilingual capability in Utah’s population translates to a more nimble and proficient workforce. Many Utahns have lived or worked abroad, which significantly augments their capability to make an instantaneous contribution to the achievement of Utah-based businesses that operate internationally.

Approximately 80 percent of students at Brigham Young University are multilingual.